
Russian Federation - Sparking Plugs - Market Analysis, Forecast, Size, Trends and Insights
Russian Federation: Spark Plug Market 2023
Spark Plug Market Size in the Russian Federation
The Russian spark plug market shrank sharply to $X in 2022, reducing by -37.4% against the previous year. Over the period under review, consumption showed a perceptible setback. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
Spark Plug Production in the Russian Federation
In value terms, spark plug production fell remarkably to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 90% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.
Spark Plug Exports
Exports from the Russian Federation
In 2022, after two years of growth, there was significant decline in overseas shipments of sparking plugs, when their volume decreased by -22.7% to X units. Overall, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by 82% against the previous year. As a result, the exports reached the peak of X units, and then fell remarkably in the following year.
In value terms, spark plug exports shrank rapidly to $X in 2022. Over the period under review, exports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2021 when exports increased by 102% against the previous year. As a result, the exports reached the peak of $X, and then contracted notably in the following year.
Exports by Country
Germany (X units) was the main destination for spark plug exports from Russia, accounting for a 83% share of total exports. Moreover, spark plug exports to Germany exceeded the volume sent to the second major destination, Kazakhstan (X units), more than tenfold. Belarus (X units) ranked third in terms of total exports with a 3.1% share.
From 2012 to 2022, the average annual growth rate of volume to Germany totaled +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+16.3% per year) and Belarus (+35.6% per year).
In value terms, Germany ($X) remains the key foreign market for sparking plugs exports from Russia, comprising 58% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports. It was followed by Kazakhstan, with an 8.5% share.
From 2012 to 2022, the average annual growth rate of value to Germany totaled +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+113.2% per year) and Kazakhstan (+17.7% per year).
Export Prices by Country
In 2022, the average spark plug export price amounted to $X per unit, falling by -3.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2017 an increase of 69% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.
Spark Plug Imports
Imports into the Russian Federation
In 2022, the amount of sparking plugs imported into Russia fell to X units, reducing by -11.3% compared with 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 180% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.
In value terms, spark plug imports reduced rapidly to $X in 2022. Over the period under review, imports, however, showed a perceptible expansion. The pace of growth was the most pronounced in 2016 when imports increased by 154% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.
Imports by Country
China (X units), France (X units) and Japan (X units) were the main suppliers of spark plug imports to Russia, with a combined 63% share of total imports. Germany, the Czech Republic, Thailand and South Korea lagged somewhat behind, together accounting for a further 31%.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +122.1%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest spark plug suppliers to Russia were Japan ($X), Germany ($X) and France ($X), together accounting for 64% of total imports. China, Thailand, the Czech Republic and South Korea lagged somewhat behind, together comprising a further 23%.
Among the main suppliers, Thailand, with a CAGR of +81.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2022, the average spark plug import price amounted to $X per unit, which is down by -4.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2020 an increase of 11% against the previous year. The import price peaked at $X per unit in 2021, and then contracted slightly in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the spark plug market in the Russian Federation. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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